Colleges are requiring me to upload our 2015 tax return by today. We don't have it. I've submitted the CSS PROFILE and the FAFSA, we have the W-2's for this year, and we have last year's tax return.
How will this impact me if I submit this year's tax return late? What should I do to make sure I remain eligible for financial aid?
If you don't have your 2015 tax return yet, you should upload the one from 2014 as a placeholder. As long as your parents' income in 2015 was similar to what it was in 2014, your financial aid award should not be affected. You can make further updates to your financial aid profile after your parents file their taxes.
Sources:
UChicago says you only have to to submit the 2014 tax return by February 15th: https://collegeadmissions.uchicago.edu/costs/apply-for-aid
Using previous year's tax return to estimate income is ok: https://fafsa.ed.gov/fotw1516/help/pincomeTax.htm
More info on filing the FAFSA and tax returns: http://www.fastweb.com/financial-aid/articles/how-do-i-file-the-fafsa-in-january-when-tax-returns-can-t-be-filed-that-early